Vietnam is ready to work with other countries involved in Trans-Pacific Partnership (TPP) negotiation towards its early conclusion, Spokesman for the Foreign Ministry Le Hai Binh said in a regular press conference on May 21.
Replying a query on the possibility of wrapping up the negotiations and signing the agreement within this year, Binh said Vietnam will follow the principle of fairness with regard to mutual benefits and respect to interests of the TPP member countries.
TPP negotiations were launched in 2005 between Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, the United States and Vietnam.
It is one of the world’s biggest Free-Trade Agreement (FTA) with the combined gross domestic product (GDP) of all 12 participant countries accounting for 40% of the global GDP.
It is a treaty of a very high standard, perhaps even an unprecedented standard, and this causes difficulties for most of the countries involved, especially in some key fields such as protecting intellectual property rights or opening up the goods market.